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Turkey’s Koç Holding builds fridge plant in Thailand

Arçelik company under the leading Turkish Conglomerate Ko ç Holding has broken ground for the construction of a refrigerator manufacturing plant in Thailand which is scheduled to operate by the end of 2015, the firm said on January 7.
Arçelik company under the leading Turkish Conglomerate Ko ç Holdinghas broken ground for the construction of a refrigerator manufacturingplant in Thailand which is scheduled to operate by the end of 2015, thefirm said on January 7.

Arçelik said the plant, built at atotal cost of around 100 million USD, is expected to generate revenuesof 500 million USD from selling more than 800,000 refrigerators in ASEANwithin the first three years after completion.

The new plantin Thailand has great potential to become a production hub in the regionunder the brand name of Beko, said Koç Holding Chairman Mustafa V.Koç during the groundbreaking ceremony.

He added that with thisbrand name, Koç Holding has achieved large market shares in the leadingcompetitive markets in Europe, including Germany, France and theUK.

Meanwhile Arçelik General Manager Levent Çakıroğluhighlighted that Beko brand has been sold in over 100 countries andbecome the home application brand recording the highest growth over thepast six months, adding that it is the second largest brand inEurope.

Levent Çakıroğlu expected that Thailand will help Bekobrand write another successful story in ASEAN as it has done in Europe.

Arçelik company plans to exports 90 percent of thetotal output manufactured in Thailand to neibouring countries includingthe Philippines, Vietnam, Malaysia, and Singapore, and Australia.-VNA
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